Proactive Investors - Electric vehicle (EV) sales across Europe grew year on year for a second consecutive month in October, market researcher Rho Motion reported on Wednesday.
Just over 260,000 EVs were sold in the continent over the month, marking a 1% uptick on a year earlier.
European manufacturers have come under pressure due to growing costs and an influx of cheaper imported vehicles from China, which are set to face tariffs later in the year.
The largest, Volkswagen (ETR:VOWG_p), last month laid out plans to close at least three factories in Germany, with Rho Motion’s figures showing EV sales in the country down 18% so far in 2024.
Across Europe, the figure was down 3% over the year so far, but had increased by 14% in the UK.
Another record month in China, where sales hit 1.2 million, pushed global sales to an all-time monthly high of 1.7 million, while North American figures grew 11.4% to 160,000.
“The global EV market is now picking back up again,” Rho Motion data manager Charles Lester said.
Growth was largely coming from China, he acknowledged, adding Western manufacturers were “clearly feeling threatened by this”.